Century Aluminum Company (NASDAQ: CENX) stock jumped 5.14% on Friday to $10.64 against a previous-day closing price of $10.12. With 1.08 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.95 million shares. During the session, the Aluminum company that operates in wider Basic Materials sector, reached to the highest price of $10.68 whereas the lowest price it dropped to was $9.84. The 52-week range on CENX shows that it touched its highest point at $30.36 and its lowest point at $5.27 during that stretch. It currently has a 1-year price target of $10.33. Beta for the stock currently stands at 2.71.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CENX was up-trending over the past week, with a rise of 7.69%, but this was up by 48.81% over a month. Three-month performance surged to 80.19% while six-month performance rose 52.22%. The stock lost -37.89% in the past year, while it has gained 30.07% so far this year. A look at the trailing 12-month EPS for CENX yields 1.63 with Next year EPS estimates of 1.25. For the next quarter, that number is -0.66. This implies an EPS growth rate of -34.50% for this year and 992.90% for next year.
Float and Shares Shorts:
At present, 91.30 million CENX shares are outstanding with a float of 51.40 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.96 million, which was 6.53% higher than short shares on Sep 14, 2022. In addition to Mr. Jesse E. Gary as the firm’s Pres, CEO & Director, Mr. John DeZee serves as its Exec. VP, Gen. Counsel & Sec.
Through their ownership of 65.19% of CENX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.56% of CENX, in contrast to 35.01% held by mutual funds. Shares owned by individuals account for 21.80%. As the largest shareholder in CENX with 9.69% of the stake, BlackRock Fund Advisors holds 8,852,538 shares worth 8,852,538. A second-largest stockholder of CENX, SSgA Funds Management, Inc., holds 8,268,408 shares, controlling over 9.05% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CENX, holding 6,186,644 shares or 6.77% stake. With a 5.02% stake in CENX, the SPDR S&P Metals & Mining ETF is the largest stakeholder. A total of 4,584,979 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 4.14% of CENX stock, is the second-largest Mutual Fund holder. It holds 3,777,580 shares valued at 30.9 million. Vanguard Total Stock Market Index holds 1.74% of the stake in CENX, owning 1,585,067 shares worth 12.97 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CENX since 3 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CENX analysts setting a high price target of $12.00 and a low target of $8.00, the average target price over the next 12 months is $10.33. Based on these targets, CENX could surge 12.78% to reach the target high and fall by -24.81% to reach the target low. Reaching the average price target will result in a decline of -2.91% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CENX will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of $0.15 being high and -$0.30 being low. For CENX, this leads to a yearly average estimate of -$0.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Century Aluminum Company surprised analysts by $0.20 when it reported -$0.34 EPS against a consensus estimate of -$0.54. The surprise factor in the prior quarter was $0.14. Based on analyst estimates, the high estimate for the next quarter is -$0.62 and the low estimate is -$0.81. The average estimate for the next quarter is thus -$0.70.
Summary of Insider Activity:
Insiders traded CENX stock several times over the past three months with 14 Buys and 11 Sells. In these transactions, 28,346,929 shares were bought while 27,598,843 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 28,542,121 while 27,883,653 shares were sold.